2 March 2011 Chemical Sector. Cherkassy

Ownership in Cherkassy "Azot" Goes To Dmitry Firtash, Head of The Board of Directors of Group DF

By acquiring a Cherkassy-based corporation “Azot”, Dmitry Firtash enlarges his group of chemical industries in pursuit of a goal of strengthening Ukraine’s positions in the global nitrogen fertilizers market.

At present, the aggregate capacity of nitrogen fertilizers producers controlled by Mr. Firtash accounts for 2.44 percent of the global output whereas the total share of companies based in Ukraine equals 2.28 percent of the world’s capacity.

The company’s incorporation into the group of assets controlled by Mr. Firtash will help optimize the production and distribution policy and introduce unified corporate management standards. This will allow to minimize administrative and production costs which is of particular importance given the stiffest competition observed on international mineral fertilizers markets.

Ukraine’s chemical sector integration is an optimum strategy underlying the ability to preserve and enhance the country’s production potential. The same strategy was chosen by the world’s leading fertilizers producers being the immediate competitors for Ukrainian industries.
 

NOTE:

Cherkassy “Azot” was commissioned in 1965 and at present remains one of Ukraine’s leading chemical industries employing about 4.5 thousand people.